Tenet Healthcare (NYSE:THC) PT Raised to $171.00

Tenet Healthcare (NYSE:THC) had its target price increased by Citigroup from $139.00 to $171.00 in a report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald raised their target price on Tenet Healthcare from $112.00 to $168.00 and gave the company an overweight rating in a report on Thursday. Mizuho restated a buy rating and issued a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Robert W. Baird began coverage on Tenet Healthcare in a report on Thursday, May 30th. They issued an outperform rating and a $153.00 target price on the stock. Royal Bank of Canada raised their target price on Tenet Healthcare from $109.00 to $136.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price target on Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $137.12.

Tenet Healthcare Trading Up 1.3 %

Shares of Tenet Healthcare stock opened at $151.63 on Thursday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.37 and a current ratio of 1.45. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $152.37. The stock has a 50 day moving average price of $134.97 and a two-hundred day moving average price of $111.17. The stock has a market capitalization of $14.81 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.86 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Tenet Healthcare will post 10.68 earnings per share for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the transaction, the director now directly owns 16,227 shares in the company, valued at $2,145,858.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Rise Advisors LLC purchased a new position in Tenet Healthcare during the first quarter worth about $29,000. ORG Partners LLC purchased a new position in shares of Tenet Healthcare in the 2nd quarter worth about $31,000. Blue Trust Inc. boosted its holdings in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Tenet Healthcare by 759.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock worth $48,000 after purchasing an additional 319 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare in the 4th quarter worth about $52,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.